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Air Canada’s Transat purchase wins Quebec court approval

Air Canada says the Superior Court of Quebec has granted a final order approving the takeover following approval by shareholders last week.
Air Canada says the Superior Court of Quebec has granted a final order approving the takeover following approval by shareholders last week. Graham Hughes/The Canadian Press

Air Canada says its deal to acquire travel company Transat A.T. Inc. has cleared another hurdle.

The airline says the Superior Court of Quebec has granted a final order approving the takeover following approval by shareholders last week.

READ MORE: Air Canada’s Transat purchase faces review for impact on airline competition: minister

The deal is still subject to regulatory approvals and other closing conditions.

The takeover will narrow the field of airline competition, securing for Air Canada about 60 per cent of the Canadian transatlantic market and helping the company maintain a firm hold on Montreal air travel.

READ MORE: Transat shareholders approve Air Canada takeover, deal now in regulators’ hands

It is expected to face intense scrutiny from the Competition Bureau and other regulatory authorities, including in Europe.

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Earlier this week, federal Transport Minister Marc Garneau approved an extended public interest assessment by Transport Canada and the Commissioner of Competition.

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